WCM Investment Management LLC Reduces Stock Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

WCM Investment Management LLC lowered its position in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,287 shares of the business services provider’s stock after selling 236 shares during the quarter. WCM Investment Management LLC’s holdings in Euronet Worldwide were worth $1,731,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meridian Wealth Management LLC purchased a new stake in shares of Euronet Worldwide in the first quarter valued at about $43,000. Tortoise Index Solutions LLC purchased a new stake in shares of Euronet Worldwide in the first quarter valued at about $105,000. Flagship Harbor Advisors LLC grew its holdings in shares of Euronet Worldwide by 144.9% in the second quarter. Flagship Harbor Advisors LLC now owns 786 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 465 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in shares of Euronet Worldwide in the first quarter valued at about $144,000. Finally, Camelot Portfolios LLC purchased a new stake in shares of Euronet Worldwide in the second quarter valued at about $206,000. 93.70% of the stock is owned by hedge funds and other institutional investors.

In other Euronet Worldwide news, VP Jeffrey B. Newman sold 5,461 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $161.12, for a total value of $879,876.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

NASDAQ EEFT traded down $1.84 during trading hours on Friday, reaching $149.52. The company had a trading volume of 5,369 shares, compared to its average volume of 511,275. The stock has a 50-day moving average of $158.99 and a 200 day moving average of $149.23. Euronet Worldwide, Inc. has a 1-year low of $91.78 and a 1-year high of $171.25. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $8.27 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.72 and a beta of 1.16.

A number of brokerages recently issued reports on EEFT. Citigroup set a $189.00 price objective on shares of Euronet Worldwide and gave the company a “buy” rating in a report on Friday, July 19th. BidaskClub lowered shares of Euronet Worldwide from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 11th. DA Davidson lowered shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and set a $161.20 price objective for the company. in a report on Thursday, June 13th. They noted that the move was a valuation call. Finally, Wolfe Research began coverage on shares of Euronet Worldwide in a report on Wednesday, July 31st. They issued an “outperform” rating and a $200.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $165.40.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services.

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Institutional Ownership by Quarter for Euronet Worldwide (NASDAQ:EEFT)

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